Backblaze (NASDAQ:BLZE) Price Target Raised to $11.00 at B. Riley

Backblaze (NASDAQ:BLZEFree Report) had its price target boosted by B. Riley from $9.00 to $11.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Raymond James decreased their price target on shares of Backblaze from $12.50 to $12.00 and set an outperform rating for the company in a report on Thursday, November 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and an average price target of $11.30.

View Our Latest Research Report on Backblaze

Backblaze Stock Performance

Shares of BLZE stock opened at $8.82 on Friday. Backblaze has a one year low of $3.50 and a one year high of $9.42. The stock has a market cap of $331.63 million, a PE ratio of -4.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a 50-day moving average of $7.79 and a 200-day moving average of $6.41.

Insider Buying and Selling at Backblaze

In related news, VP Tina Cessna sold 20,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $7.39, for a total transaction of $147,800.00. Following the transaction, the vice president now directly owns 131,935 shares in the company, valued at $974,999.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 87,477 shares of company stock valued at $626,113. Corporate insiders own 27.14% of the company’s stock.

Hedge Funds Weigh In On Backblaze

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Backblaze by 275.9% in the 1st quarter. Royal Bank of Canada now owns 2,819 shares of the company’s stock valued at $30,000 after purchasing an additional 2,069 shares in the last quarter. Cutler Group LLC CA boosted its stake in shares of Backblaze by 553.0% in the 4th quarter. Cutler Group LLC CA now owns 3,918 shares of the company’s stock valued at $29,000 after purchasing an additional 3,318 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Backblaze in the 3rd quarter valued at $34,000. AJOVista LLC purchased a new stake in Backblaze during the 4th quarter valued at $67,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Backblaze during the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 15.23% of the company’s stock.

About Backblaze

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Backblaze, Inc, a storage cloud platform, provides businesses and consumers cloud services to store, use, and protect data in the United States and internationally. The company offers cloud services through a web-scale software infrastructure built on commodity hardware. It also provides Backblaze B2 Cloud Storage, which enables customers to store data, developers to build applications, and partners to expand their use cases.

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Analyst Recommendations for Backblaze (NASDAQ:BLZE)

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